Tracy Woodworth, Media Analyst at Convertro (http://www.convertro.com/) talks about using actual data performance and building thresholds in order to allocate the optimal spend levels and media mix. When doing this, it is possible to use forecasting capabilities and predictive feature analytics to determine this allocation.
- Build Thresholds and Rules for Early Hazardous Signs
- Use Forecasting Capabilities and Predictive Features and Analytics
- Apply Actual Data Performance and Take into Careful Consideration
With every campaign that you take live, you’re going to want to build in some thresholds and some rules just for early hazards designs, every campaign is going to have them.
So if looking forward, you know what to expect and then as soon as you reached the red zone you know when to pull back and to start maybe re-thinking how you want to move forward. You should be pretty solid on that one but if you use the forecasting capabilities and the projective features and different analytics you’ll also be good, and what I mean by that is a little bit of media can run and give you some results and some performance that will give you an idea about where it’s going to go and then obviously it’ll just taking you blow that out and you can get an idea about how far that can take you.
So actually take the data and actually apply the different performance. It’s probably not going to change too much unless you’re a highly seasonal type of a client with the product or a service.
So, just build in the different thresholds to alert yourself to the obvious red flags and you’ll be able to avoid the potentially costly situations.